Your statement is just telling you what each cost is for each kilowatt of electricity you are using. When you add the KWH charge $0.06912 + distribution charge $0.05003=$0.11915 cents or about 12 cents per KiloWatt Hour(KWH) which is the same as suing 1000 watts in one hour. (1 KWH=1000 watts per hour). So if your device is using 1 kilowatt per hour (which is equal to 1000 watts in one hour), then you are paying about $0.12 cents for each one (1) hour of use. If the KWH is higher, say 2 kilowatts (2000 watts per hour) then it costs you around $0.24 cents per hour to run that appliance. If you measured 2400 watts or 2.4 KW on your monitor over a 24 hour period (which is equal to 100 watts per hour) then it costs you only $0.288 (approx 29 cents) per day to operate. The math would be 2.4 kilowatts per day x $0.12 per KW = $0.288 per day to operate. If this same appliance ran for 30 days, it would cost you $8.64 per month to run. ($0.288 per day x 30 days=$8.64 in one month). Hope this explains it better.
Note: You can't enter a value into your Kill a Watt electricity usage monitor. It only instantaneously measures and displays the power (in units of watts) being used by a device that is plugged into it. Power is measured as amperage multiplied by the voltage. The monitor is actually measuring both the amperage (current) used by the device and the voltage used by the device. It multiplies these two values together to display the power in watts. So if a device uses 1 amp of current times 120 volts=120 watts of power. This equates to about 1.44 cents per hour. The math calculation is 120/1000 x $0.12 per KWH=$0.0144 cents per hour. The monitor also can measure how many total watts are used over a period of time which would be displayed as a cumulative total of watts. If you plugged a device into the monitor for a long time, say one month and it measured a total of 10,000 watts for the month (=10 KW per month) then you can calculate that this device used 10KW per month x $0.12 per KWH= $1.20 per month to operate.